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| HK economy on way to recovery |
| CCTV.COM 2003-07-29 09:07:32 |
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Hong Kong's economy has shown signs of overall recovery with major economic indicators being better than expected. Encouraged by Hong Kong SAR government's 1.5－billion－US－dollar economic relief package and the signing of the Closer Economic Partnership Arrangement with the Chinese mainland, Hong Kong's exports, described as the engine of Hong Kong's economy, took a lead in growth.
In June, Hong Kong's export volume reached 142 billion HK dollars, or more than 18 billion US dollars, up 14 percent year on year.
Tourism, another pillar of Hong Kong's economy, got back on its feet quickly after being hit hard by the SARS epidemic.
As a "barometer" of Hong Kong's economy, the Hang Seng Index is also picking up gradually from its four year low of 8,400 points when SARS prevailed in Hong Kong. In June, the Index broke 10,000 points with daily trading volume hitting 10 billion HK dollars or 1.3 billion US dollars for days.
Although the blue chips witnessed steep inclines and marginal decreases since the beginning of June, the market's bullish sentiment is obvious.
As an important indictor of Hong Kong's economy, the property sector also indicates improvements recently.
Experts say, the catering trade, retail and tourism sectors will continue to gain momentum while the stock market and the property sector are expected to maintain steady growths. The entire economy is expected to climb from its current plateau.
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Editor: Xiao Wei CCTV.com
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